Has The S&P 500 Bottomed ?

S&P 500 Futures---The S&P 500 in the June contract settled last Friday in Chicago at 2288 while currently trading at 2525 as we are sharply lower in today's trade as the volatility is as high as I've ever witnessed as I don't think that situation is going to end anytime soon as prices actually traded as low as 2174 earlier in the week only to rally due to oversold conditions.

I am advising clients to avoid this market as the volatility is too high therefor the risk/reward is not your favor as we continually flip flop on a daily basis as headlines about the Coronavirus is sending shockwaves throughout the United States and the world at the current time.

As I have talked about in many previous blogs I think there are a lot of individual stocks that look cheap especially if you are a long-term investor as eventually the virus will go away and we will get back to normal despite the fact that we lost 3 million jobs last week and there's going to be millions more that will be lost in the coming weeks ahead, but that has already been reflected into the market.

Congress has passed a 2.2 trillion relief fund as that has helped stabilize the market, however time will tell to see how this situation unfolds, but at the current time there is just too much uncertainty.

TREND: LOWER

CHART STRUCTURE: POOR

VOLATILITY: HIGH

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

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